Federal Retirees

1) Date of retirement: 11/25/2017 - 38 yrs - 7 mos. 2 Agencies
2) Weeks to receive A/L: 4
3) Weeks to receive Buyout $ if applicable: N/A
4) Weeks to receive interim and %%% of pay: 12 weeks - 62%
5) Months to complete: not final yet - OPM card in mail on 2/12/18
6) OPM processing by D.C. or Boyers, PA: Boyers
7) FERS or CSRS: CSRS-Offset.

8) Date Finalized per the services on line website: 4/30/18 or 60 weeks and change - "Blue Book" to arrive in a few weeks. Going to be interesting, since I am Offset, to see the details.
I cajoled my HR to be boldly transparent about my CSRS estimate minus the estimated SS amount to avoid overpayment in the interims. It seems per my interim payments and recent deposit of what appears to be my full annuity that it all jives.

Gad, typing too quick for brain. 5 months circa 20 weeks! sheesh.

Offset, as you know, can take longer. My theory, is my "challenged agency HR" who I never got a warm fuzzy from in the way of knowledge about or moderate efficiency in processing anything. Just the way it was and I operated by being polite and patient throughout. Heck, I had to explain what Offset was to HR and send them links to information about it.

I figure, with my effective retirement date of 11/25/17 and HR had my "clean package" four weeks before with my SF-50 action to them in early September, and from what I experienced up to that point, is they, HR, probably did not get the package out of their office until after Xmas holidays. That with the arcane aspect of CSRS-Offset, plus I breaks in service, buy-back etc leads me to think that OPM did a fair job of it as they did not receive my retirement package until Feb. 6, 2018.

UPDATED 2/1/18

12/23/17 Date of retirement FERS
12/23/17 DFAS Retirement data sent to OPM
1/04/18 Received final paycheck with Lump Sum Leave Payment
1/16/18 Notification of Retirement Received by OPM
1/16/18 Retirement Application Received by OPM
1/16/18 Received CSA number
1/18/18 Services Online temp password

1/23/18 >Packet sent to Court-ordered benefit section/D.C. (because my CPAC said to send my marriage license and divorce decree from previous marriage although NO assignment to my retirement. At least they just FAX your documents - was told THIS will DELAY my retirement by FOUR MONTHS. **>>>DO NOT ENCLOSE<<< your prior marriage documents if no benefit assignment to former spouse!! GRRR) Talk about bad advice!

1/25/18 Received notice of interim payment
1/30/18 Assigned to Specialist
2/1/18 First interim payment deposited (at least I know they have the right bank info)
6/28/18 Notice retirement finalized
6/30/18 Back pay deposit

Now waiting on blue book

Received my "blue book" today and am VERY pleased with my annuity amount. Working until 62 paid off, and having a pretty steep high three helped out.

Because of the horrible advice to send the divorce decree with my packet, I only received $199 a MONTH since December. I was embarassed to even type that. I mean, after 32 years? Really?

I was pretty upset about it, but in that I had a complex career, I anticipated it would take a while, adding the Assigned Benefits branch fiasco in there, and it was a disaster. Good thing I had $$$$$$ in tsp. You cannot rush these people. I would just not think about it, pray about it, etc.

Will get my first full payment August 1. I've been doing very well with what I have NOT been receiving, so I am using my retirement pay to just pay off my house.

Amazing what you can live without.

EDIT UPDATE - WAS JUST NOTIFIED THAT OPM HAS FINALIZED MY CASE - 2 MONTHS & 2 DAYS FROM START OF RETIREMENT!!

Just retired and it's great!! There is a weight that I feel has been lifted - odd thing is that I did not realize it was even there until it was gone. 29.5 years with one agency, 10 months 5 days sick leave, age 62 for FERS 1.1 multiplier. 50% survivor benefit. Boyers processing.

5/31/18 Date of retirement FERS
6/14/18 DFAS Retirement data sent to OPM (estimated date - I cant find the letter)
6/21/18 Received final paycheck with Lump Sum Leave Payment
6/27/18 Notification of Retirement Received by OPM
6/27/18 CSA number assigned
6/29/18 Retirement Application Received
7/2/18 OPM informed TSP of retirement
7/12/18 Received notice of interim payment
7/16/18 Services Online temp password
8/1/18 First interim payment deposited
XXXXXX Assigned to Specialist - OPM SKIPPED THIS AND JUST FINALIZED THE CASE
8/2/18 Notice retirement finalized
?? Back pay deposit

I have also received my first TSP distribution (about 4% of acct total to be withdrawn per yr, funds staying in TSP) and my first Social security checks at the end of July. Do the calculation for Social Security - my break even point is when I am around age 77. The breakeven happens when the amount of money you received from age 62 is equal to the amount collected at some later date at a higher pay rate (presumably starting at age 66). I can live just fine with the reduced amount when taking it at age 62. I figure it is better to get the extra money when I can best use it - my younger and healthier years (I hope).

By my calculations, I am putting approx 1% more money in pocket during retirement as opposed to working. This is possible because a lot of the paycheck deductions no longer apply in retirement (such as TSP savings, SSI and the like). When I retired, I was actually paying Uncle Sam $0.41/hr to work. This figure is calculated by comparing my total (estimated) post tax take home retirement income from all collectible sources (FERS+TSP+SS) to my take home while working. It was worth it just to reach the age 62 1.1 multiplier. Do that calc for yourself if you are on the fence about retirement. I showed it to 3 other coworkers, and they quickly decided to bail.

Edited by user Friday, August 3, 2018 3:58:47 AM(UTC)  | Reason: Not specified

so true!!!!


this is the hardest thing to explain to people.

NFC?

aint it great!!!

It's becoming clear to me that OPM is THE most inept and incompetent agency of Uncle Sam. They're now telling me it could be six months after filing before they do anything. 'Your file is waiting, we don't know who will get to it or when or how many are ahead of you.'

most likely stupified has other issues and they elected not to post these.

they just want to slam the hand that feeds them.





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